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  1. #11
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    Quote Originally Posted by deku View Post
    Aw thank you for the encouragement! We are still saving everything we can, we're possibly just very pessimistic and have therefore given up :P
    It does feel a bit like we threw away a decade of earning potential to pursue pointless degrees :-/ We do still quietly hope that isn't true though!
    Science is never pointless!

    I know plenty of people in their 30s saving for a house deposit. It's also not the be all and end all, you'll get there eventually. Some times a few unexpected windfalls can come your way, some tax returns etc. and you can add it to a deposit. It might take awhile but every bit helps and you'll yet there. Still very young

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    babyno1onboard  (10-05-2016),deku  (11-05-2016)

  3. #12
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    we only bought out first home aged 34 and 35. I only met dh at 29 though, we got engaged at 31 (2012), married at 33 (2014). then purchased last year and had first bub this year. I feel although we started out being grown ups a bit later in life, we've done a lot in a short space of time.

    for years before I met dh though, being single or in pointless relationships, I carried a bit of debt (like max $5k which is not very much really but at the time I could never seem to just pay it off). at that stage, home ownership seemed light years away, if it ever actually happened. I was quite bad at managing my money and didn't really understand finances. although my parents are frugal and very risk averse and good savers, I don't feel they really taught me that much about managing money.

    it wasn't until a few years later that I became better at understanding/managing my money and gained an interest in investing in the stock market.

    so yeah. started out very paups, going ok now. by no means are we wealthy but we are comfortable, carry an acceptable level of debt and are extremely liquid. I feel financially secure and feel a decent sense of financial freedom. educating yourself about finance is the best thing you can do to try and turn things around for yourself.

  4. #13
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    Part of our problem is that we can be quite frivolous with money. Hubby grew up with his Dad who is rubbish with money and my parents are horrendous with it. As such, neither of us really learned how to save etc. we are learning now.
    My mother is the type that has 5 credit cards, and pays them off with each other. Last I heard they were currently $400,000 in debt NOT including mortgages. But continue to take their lavish European Holidays and cry poor to the rest of the family.

  5. #14
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    Debt can be a hard trap and you'd have to get rid of that before you can save. We were lucky we just never got anything on tick, even cars, just saved and paid cash.

    We found the best thing (and it was hard!) was to move out of our funky inner city apartment with great pubs and cafes 200m walk away out to the burbs to a tiny one beddie place that was less than half the rent. Commute was more but it was a $70 cab ride to have a big night out so we just saved stacks by staying home for a year, almost in exile. Rarely ate out, drank at home, cheapy rent and bills in a little place and before we knew it we'd saved a huge chunk of moula. Obviously pre kids and fancy free.

  6. #15
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    I agree that you are still young and 'never' is too far away to contemplate.

    DH and I had owned before we met but he had debts, which I paid off when we got serious and then the GFC wiped out about 70% of what was going to be our house deposit. This was when I was 32, newborn baby and not working. We decided to just give up for the time being and our money got spent on travel, our wedding, business startup and interstate move. Then 2 years ago, me at 38 with a 6yo and 8mo decided it was time to get serious.

    Like PP we were pretty much hermits while we saved. But we got a deposit together by both working full time. We finally re-entered the property market last year just before my 40th birthday.

    The other big thing that changed given more time was the "where". 11 years ago I was living in inner urban and couldn't imagine being happy more than 10km out of the cbd. Now, due to life's twists and turns plus the change of perspective that kids growing up brings, we happily bought in "the country" 80km away from the cbd and love it! To live inner we would need to have saved for another 10 years!!

  7. #16
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    Default Anyone else a pauper?

    You are not alone. Out of our group of 10 friends only us and one other guy are not renters. We are all in our 30s, and live regional, so don't have Sydney prices, but even here it's out of reach.

    Some studied, some went into paid jobs straight from high school, nobody travelled. All of us moved out of home by mid 20s instead of saving so that could be an issue. The biggest factor is most are not in long term or stable relationships and can't do it on a single income so they are stuck. Or they now have kids and are stuck.

  8. #17
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    Yep I'm 99% sure we will never own even more depressed about that at the moment as just found out our rental is up for sale so need to move at 6 months pregnant. Makes me feel like I'm failing my DD not being able to give her stability. Part of our problem is credit history, DH's is stuffed from a large loan he got for MIL that she never paid. And we don't have high earning careers. Definitely makes you rethink a lot of your life choices....

  9. #18
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    Quote Originally Posted by BettyV View Post
    We're part of the long term renters crowd. We married relatively young when I was a full time student and dh a lowly paid apprentice. Since then I've done two post grad degrees and Dh went to uni and retrained. We've moved states 3 times following careers. There's only been 18 months when we were both in full time work because of either study, maternity leave, or now having a toddler. I think at this rate we'll have to hope to inherit a house. I know people say, well you chose your education over saving and they're right. But as a researcher I couldn't do my job without all of my degrees and dh would be miserable if he hadn't retrained.
    We're in a similar position (except I haven't done 2 post grad degrees - I just changed careers so DH could go to uni. I am however, thinking about retraining and going into psychology because it is an area that still fascinates me, even after I changed my mind 12 years ago. Even that has me hesitating because HECS).

    Theoretically, now we're in a rural area, we could buy here.... but, we've been told housing prices haven't really changed in 10 years. Do we really want to give up our small deposit in order to live in a house we've had to get a huge mortgage for, if we're hoping to move back towards family in 5 years or so, and there's a good chance we'll just be worse off because we won't have made any profit on the house and now have no deposit.

    Buying a house in one of our preferred areas though, is completely out of reach 😟

  10. #19
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    If your all on Facebook jump on simple savers group it's really opened my eyes. Can't believe it.

  11. #20
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    Yep, us! Dh and I met at 18, moved out at 20, married at 22 and first child by 25. Dh was on a low income when we left home and I was studying and only working casually so we never really were able to save.

    Then I started a phd then got really sick and wasn't able to work for a long time. Then we had to fund fertility treatment. We got into a lot of debt from medical expenses and our car dying. It was awful.

    We were fortunate enough to be able to move in with my mum which has allowed us to become debt free, replace our car and build up a deposit. We still need to save more but are hoping by next year we might have enough for a deposit for a small house of our own. There is no way we would have been able to save without moving in with mum. We would have just spiralled into more and more debt.

    Sometimes I think maybe we should have just stayed at home until our mid to late twenties and saved like many of our friends. But then I know we would likely never have been able to have kids (I am 29 and have been told I will likely go into early menopause). It is what it is...We will get there one day.


 

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